Property

STRAP City property registrations have consistently remained above 10,000, significantly higher than pre-pandemic levels

Project approvals slow down but most companies expect to meet their annual guidance

Institutional investors 'extremely bullish' about sector's growth potential, it says

Residential investment, which includes homebuilding and sales, likely rebounded in the fourth quarter after being a drag on gross domestic product for two straight quarters

The fate of properties worth Rs 15,000 crore owned by Bhopal's erstwhile rulers and inherited by actor Saif Ali Khan and his family remains in limbo due to uncertainty over filing an appeal against an order of the Office of the Custodian of Enemy Property, lawyers said. If an appeal is not filed by Bhopal Nawab's successors against the order of the Office of the Custodian of Enemy Property for India, the properties may come under the Centre's control, they said. It is not yet clear whether they have filed an appeal before the Mumbai-based Office of the Custodian of Enemy Property, which comes under the Union home ministry, following a Madhya Pradesh High Court order of December 13, 2024 on the issue. Saif Ali Khan's mother and noted actress Sharmila Tagore (Pataudi) and others had challenged in the HC the order dated February 24, 2015, of the Custodian of Enemy Property for India that termed the property of Bhopal Nawab as "Enemy Property". The authority under the home ministry had

Union minister JP Nadda said on Saturday that the distribution of Svamitva property cards and other initiatives underscore the Narendra Modi government's resolve to empower the people. He said 3.17 lakh villages were covered with the help of technology under the Svamitva Scheme, and 1.53 lakh farmers will be given property rights today. Nadda virtually attended the distribution of Svamitva cards by Prime Minister Narendra Modi from Ahmedabad with Chief Minister Bhupendra Patel and Governor Acharya Devvrat. "Under Prime Minister Modi's leadership, the empowerment of the common man has been given great importance. The Modi government always prioritised people and ensured how we should work to empower the common man," Nadda said while addressing a state-level programme. PM Modi distributed around 65 lakh Svamitva property cards, which he said would bolster economic activities and alleviate poverty. These property cards are being distributed to beneficiaries across more than 50,000 ..

The agreement includes the sale of all pieces and parcels of land along with an existing building on the 5.75-acre site

The Supreme Court has said that the right to property is a constitutional right and an individual cannot be deprived of his property without him being paid adequate compensation in accordance with the law. A bench of justices B R Gavai and K V Viswanathan said the right to property ceased to be a fundamental right due to the Constitution (Forty-Fourth Amendment) Act, 1978, however, it continues to be a human right in a welfare state and a constitutional right under Article 300-A of the Constitution. Article 300-A of the Constitution provides that no person shall be deprived of his property, save by authority of law. The apex court delivered its verdict on Thursday on an appeal challenging a November 2022 judgement of the Karnataka High Court in a matter pertaining to land acquisition for the Bengaluru-Mysuru Infrastructure Corridor Project (BMICP). "As discussed hereinabove, though the right to property is no more a fundamental right, in view of the provisions of Article 300-A of t

The Supreme Court on Tuesday said allowing the State to appropriate private property through adverse possession would undermine the constitutional rights of citizens and erode public trust in the government. A bench of Justices Vikram Nath and P B Varale dismissed an appeal of the Haryana government challenging the Punjab and Haryana High Court order restoring the possession of land to a private party in which the state's Public Works Department (PWD) has staked its claim. "We find no merit in the appellants' contentions. The high court's judgement is based on sound legal principles and correct appreciation of evidence. The plaintiffs (private party) have established their ownership of the suit property, and the State cannot claim adverse possession against its own citizens," it said. The dispute pertains to land in Bahadurgarh at Haryana located on the National Highway, which connects Delhi and Bahadurgarh. The bench relied on the entries of the revenue records which established t

After jumping nearly 60 per cent in three years, the island-wide rental index has softened by 4 per cent over the last four quarters

The Supreme Court is scheduled to pronounce its verdict on Wednesday on pleas seeking framing of guidelines on demolition of properties in the country. A bench headed by Justice B R Gavai had reserved the verdict on October 1. The top court had said it will lay down pan-India guidelines while making clear that any religious structure in the middle of a road, be it a 'dargah' or a temple, "has to go" because public interest is paramount. It had said merely because somebody is an accused or even a convict cannot be a ground for demolition of property. A batch of pleas alleged that properties, including of those accused of crime, were being demolished in several states. "Whatever we are laying down, we are a secular country. We are laying it down for all the citizens, for all the institutions, not for any particular community," the bench had said. The top court was hearing the petitions filed by Jamiat Ulama-i-Hind and others seeking directions to various state governments to ensure

The Kerala High Court has observed that section 52A of the Waqf Act, which was inserted by an amendment in 2013, does not say that those in occupation of waqf property prior to that can be prosecuted for alienating such land without the Waqf Board's sanction. The observation by Justice P V Kunhikrishnan came while quashing the criminal proceedings against two officials of the Department of Posts for allegedly alienating waqf property without the Waqf Board's permission. The criminal proceedings were initiated against the officials on a complaint by the Kerala State Waqf Board. Quashing the criminal proceedings pending before a magisterial court in Kozhikode, the High Court said the post office was functioning on the waqf property since 1999 and section 52A of the Act does not show that a person who is in occupation of such land even prior to the insertion of the provision were liable to be prosecuted. "Hence, I am of the considered opinion that the prosecution against the petitione

Supreme Court gives a boost to private property rights

The ruling calls into question the doctrine of eminent domain, where state could summarily acquire private property, particularly land, for public use, and redefines the economic powers of the state

The SC ruling, held by a majority of 8:1, adds that private property does not qualify as 'material resources of the community' as defined under Article 39(b) of the Indian Constitution

Realty firm Wave Group is expecting more than Rs 500 crore revenue from a new luxury housing project in its 4,200-acre township in Ghaziabad, Uttar Pradesh. The company has launched a new project 'Eden', spread across 5.2 acres, Wave Group said in a statement. It has launched around 250 apartments for sale. The company is expecting sales bookings value of more than Rs 500 crore, according to property consultants. Last month, Wave Group had said it plans to launch around 9,000 flats in its 4,200-acre township 'Wave City' at Ghaziabad to monetise its huge land bank amid strong housing demand. The group plans to launch about 7 million square feet in the premium and affordable group housing categories in Wave City in the current fiscal. The investment to develop a 7 million square feet area and potential sales value were not disclosed. Wave Group has already developed more than one-third of the township spread over 4,200 acres in the last 10 years by way of plotted development and ..

Uttarakhand Governor Lt Gen (Retd) Gurmit Singh has given his assent to a legislation that would enable full recovery of damages caused to public property during riots or protests as well as the imposition of a fine of up to Rs 8 lakh on rioters. The Uttarakhand Public and Private Property Damage Recovery Bill was passed by the state assembly last month and sent to the governor for his nod, which was received on Thursday. Welcoming the governor's assent, Chief Minister Pushkar Singh Dhami said the law's strict provisions would serve as a strong deterrent for potential offenders who damaged public property during strikes, protest demonstrations or riots. "The recovery of every paisa of a damaged public property will now be made from the person responsible for it," Dhami said. The purpose of the law is to stop people from damaging public property during riots, he added. Apart from full recovery of damage caused to private and government property from rioters, a fine of up to Rs 8 la

This week we report about the financial planning needed to buy a home and what investors must consider about equal-weight indexes

The Enforcement Directorate Tuesday claimed that the wife of Sandip Ghosh, the former principal of Kolkata's RG Kar Medical College and Hospital, purchased two immovable assets without "proper approval" from West Bengal government authorities. The federal agency alleged in a statement that it has "found" documents related to about half-a-dozen houses, flats and a farmhouse owned by the doctor couple during searches conducted against them and their "close relatives" on September 6 at seven locations in Kolkata. Sandip Ghosh has been booked by the ED in an alleged financial irregularities linked money laundering case after taking cognisance of a CBI FIR. The ex-principal came under the scanner following the rape and murder of a 31-year-old postgraduate trainee doctor at the hospital on August 9. The ED said his wife, Dr Sangeeta Ghosh, purchased two immovable properties "without any proper approval from the state government authorities". "Interestingly, a post facto approval was gran

Five major property markets in Uttar Pradesh, including Noida and Greater Noida, have 378 stalled housing projects, comprising nearly 1.46 lakh units, according to PropEquity. Real estate data analytic firm PropEquity data showed that as many as 378 housing projects comprising 1,45,880 units are stalled across Noida, Greater Noida, Ghaziabad, Lucknow and Agra in Uttar Pradesh. As per the data, Greater Noida has 167 stalled projects with 74,645 units. Noida has 103 stalled housing projects comprising 41,438 units, while Ghaziabad witnessing 50 stalled projects with 15,278 units. Noida, Greater Noida and Ghaziabad are important property markets in the Delhi-NCR. Lucknow -- the capital of Uttar Pradesh -- too has 48 stalled housing projects comprising 13,024 units. Agra property market has 10 stalled projects with only 1,495 units. Overall, PropEquity data showed that 1,981 residential projects are stalled across 42 cities, totalling 5.08 lakh units. Of these stalled projects, as